SAN DIEGO, Jan. 29, 2019 /PRNewswire/ -- AbacusNext®, the largest Technology-as-a-Service (TaaS) provider for the legal and accounting professions, today announced it has completed a Service Organization Control (SOC) 2 Type 2 audit of its Abacus Private Cloud (APC) platform. This certifies, according to the standards standard defined by the Association of International Certified Professional Accountants (AICPA), that APC's information security practices, policies, and procedures meet the SOC 2 trust principles criteria for security, availability, and confidentiality across eight data centers in three countries.
Given the current cybersecurity threat landscape and increasingly strict compliance standards, it has become common for organization of all sizes to require strict assurance certifications when contracting with third-party professionals, and those without certification are left at a disadvantage. It's been beyond the reach of the average professional services firm to build, maintain, or verify the integrity of their physical IT infrastructure, software platforms, data storage, and the internal operational controls that govern access to them—until now, with Abacus Private Cloud.
"In today's competitive professional environment, demonstrated SOC 2 Type 2 compliance is an absolute requirement for securing the future of your business. Piecemeal IT solutions where hardware, software, and system administration are handled by a mix of vendors and in-house staff won't cut it, and the resources and expertise required to assemble a SOC 2 compliant solution are far beyond the means of the average firm," said Jerome Fodor, AbacusNext CTO. "Now, from a single source, firms can access a complete, end-to-end technology solution that's compliance-ready and certified at the highest level. APC is that solution."
APC is the most comprehensive, compliant, and cost-effective cloud solution for professional services firms doing business in highly regulated industries. With no capital investment, APC allows legal and accounting professionals to pay-as-you-grow, making enterprise level technology infrastructure and management more affordable and accessible than ever before.
"SOC 2 certification is the new normal in compliance requirements for working with client organizations of any size. They need assurance that their data will be safe," said Alessandra Lezama, AbacusNext CEO. "Whether it's bringing on outside council or an independent auditor, professionals without a technology provider who can demonstrate their data security compliance won't win the business. We invested in SOC 2 because it is the right thing to do for our future and the future of our clients."
As the largest Technology-as-a-Service (TaaS) provider for the professional services sector, AbacusNext helps legal and accounting professionals achieve ultimate success and peace of mind through the delivery of a complete suite of compliance-ready technology solutions designed to support a secure and cloud-enabled practice at a cost they can afford. Headquartered in San Diego, California, and backed by private investment with Providence Equity, AbacusNext delivers products and services to over 500,000 businesses worldwide.
About Providence Equity Partners
Providence is a premier global private equity firm with more than $54 billion in capital under management. Providence pioneered a sector-focused approach to private equity investing with the vision that a dedicated team of industry experts could build exceptional companies of enduring value. Since the firm's inception in 1989, Providence has invested in more than 160 companies and is a leading equity investment firm focused on the media, communications, education and information industries. Providence is headquartered in Providence, RI, and also has offices in New York and London. For more information, please visit www.provequity.com.